It looks like Netflix is expanding its longstanding partnership with Sony Pictures Entertainment. In a joint statement, the two firms announced a multi-year agreement granting Netflix global streaming rights to Sony’s film catalogue. This Pay-1 licensing deal enables the streaming service to host these films following their theatrical releases.
This new agreement expands on an existing deal, which was penned in 2021. As per the statement, this new arrangement will roll out gradually later in the year, with full availability expected by 2029. This is of course based on individual territory rights. As it stands, the platform has rights to Sony films in certain regions, namely the US, Germany, and Southeast Asia.
What this means
Basically, this deal gives Netflix exclusive rights to stream these films after they’re done showing in cinemas and become available for online purchase. Aside from that, the streaming platform will also be able to license select films and TV series, although the statement makes no mention of which ones specifically.
It is worth noting that this does not mean that the movies will remain on Netflix forever, though. It only means that the platform gets first dibs on streaming them. A Pay-1 window, which in the entertainment business refers to when movies go from cinemas to home viewing, typically lasts 18 months.
Either way, the agreement gives Netflix access to a massive entertainment library. Currently, available Sony films offered by the service include Uncharted, Spider-Man: Across the Spider-Verse, and Venom: The Last Dance. The new deal will see the platform hosting upcoming titles like The Legend of Zelda and Spider-Man: Beyond the Spider-Verse.
Of course, such an arrangement comes at a price. While neither company has disclosed the value of this deal, reports point to a figure of around US$7 billion (~RM 28 billion). It’s a pretty hefty price to pay, but the agreement does span several years. Apparently, it will run until 2032.
One platform to rule them all
It is also worth noting that this is not the only deal Netflix has secured. Starting 2027, the platform will be able to host films from Universal Pictures and Focus Features on its platform.
And of course, there is the bid to acquire Warner Bros Discovery for US$82.7 billion (~RM335.6 billion), which Paramount is contesting. Should Netflix succeed in its acquisition, though, it will have films from Sony, Universal, Warner Bros, and A24 under its umbrella.
